Stock Market & Financial Investment News

On The Fly: After Hours MoversUP AFTER EARNINGS: Finisar (FNSR), up 6%... Ascena Retail (ASNA), up 2%... Ambarella (AMBA), up 1.5%... ALSO HIGHER: Garmin (GRMN), up 4% after being added to S&P 500, effective December 11 close... Diamond Hill Investment Group (DHIL), up 5% after announcing $8 per share special dividend... DOWN AFTER EARNINGS: Vera Bradley (VRA), down 9%... Men's Warehouse (MW), down 8% after earnings and lowered guidance... ALSO LOWER: Delcath Systems (DCTH), down 11% after announcing a modified NDA with the FDA... Align Technology (ALGN), down 4% after saying it sees EPS, revenue at lower end of previous guidance... Emulex (ELX), down 3% after announcing acquisition, reaffirming previous guidance.

News For FNSR;ASNA;AMBA;GRMN;DHIL;VRA;MW;DCTH;ALGN;ELX From The Last 14 Days

Avago to commence $8 per share cash tender offer for Emulex on April 7Avago Technologies (AVGO) and Emulex (ELX) announced that Emerald Merger Sub, Inc., a wholly owned indirect subsidiary of Avago, plans to commence its $8.00 per share cash tender offer for all shares of Emulex on April 7. The tender offer is pursuant to a merger agreement among Avago Technologies Wireless Manufacturing, a wholly owned indirect subsidiary of Avago, Purchaser and Emulex which provides for Avago USA to acquire Emulex in an all-cash transaction valued at approximately $606M, or $609Mnet of cash and debt acquired. The tender offer will remain open until 11:59 pm EDT on May 4, unless earlier terminated or extended.

GoPro climbs with analysts getting positive after sell-offThe shares of action camera maker GoPro (GPRO) are rising after research firm Robert W. Baird upgraded the stock to Outperform from Neutral in a note to investors earlier today. The company's penetration of the active sports market is still in the early innings, the firm contended. WHAT'S NEW: GoPro sold 5.2M cameras last year, but there are hundreds of millions of action sports enthusiasts around the world, while everyday use of the company's cameras is growing, Baird analyst William Power wrote. As a result, the company's market penetration is still in its early stages, the analyst contended. Although GoPro is likely to face growing competition, its strong brand and distribution should make it difficult for other companies to take share from the action camera maker, contended the analyst. Moreover, even excluding the potential positive impact of new products and media projects, the camera maker's revenue is poised to rise 23% this year and 20% next year, while its profit should climb 27% next year, Power forecast. At current levels, the stock's valuation is attractive, added the analyst, who kept a $57 price target on the shares. WHAT'S NOTABLE: Another analyst who is upbeat on GoPro's outlook is FBN Securities' Shebly Seyrafi. The stock has sold off despite the camera maker's "robust" growth rates, and, as of yesterday before the market opened, the shares had fallen 58% from their 52-week high of $98, Seyrafi stated in note to investors yesterday morning. The analyst believes that concerns related to entrance into the sports camera market by Chinese company Xiaomi are overblown. He strongly recommended buying shares of GoPro. ANOTHER TO WATCH: GoPro is a major customer of Ambarella (AMBA), which makes chips for video cameras. PRICE ACTION: In early afternoon trading, GoPro climbed 3.5% to $44, while Ambarella lost 1% to $68.75.